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Survey: Nearly one-third of people with credit card rewards don't use them

Published: Jul. 5, 2017 at 10:58 AM EDT|Updated: Jul. 6, 2017 at 6:21 AM EDT
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(WWBT) - Odds are you've got a rewards credit card in your wallet right now. But when's the last time you cashed in on those rewards?

A new survey from Bankrate finds 31 percent of rewards card holders have never redeemed those rewards.

Well, some of people are stockpiling points for bigger rewards, but the problem with waiting, according to card analysts, is that some rewards do expire depending on your card agreement.

Credit card rewards rarely gain value over time. In fact, many companies require more points or miles for the same perks. So your best bet is to use them on a regular basis.

Another common problem? You get a rewards card that fits your life and then your life changes.

Maybe you stop flying as much when you had kids so your miles are going unredeemed.

Take a close look at how you're using your rewards.

If you aren't, maybe it's time to switch to a cash back rewards card. Just make sure you look for one with no annual fee.

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